NHI Fund - Financial

(1) For the purpose of this Part, there shall be established under the control and overall management of the Board, a Fund called the National Health Insurance Fund which shall be a separate fund for the NHI Scheme. NHI Fund- (2) The NHI Fund shall consist of– (a) all NHI contributions, if levied by the Board 64 (b) all interests, and other income derived from the assets of the NHI Fund; (c) all sums recovered the NHI Fund under this Part; (d) all sums properly accruing to the NHI Fund under this Part including any donations and grants; (e) any sums approved by the National Assembly for the purposes of the NHI Scheme only; and (f) any other moneys to be legitimately applied for the implementation of the NHI Scheme. (3) There shall be paid or met out of the NHI Fund– (a) moneys solely for the purchasing and financing of NHI health care services for NHI beneficiaries; and (b) all costs and expenses properly incurred in the management of the NHI Scheme plus half of the remaining expenses incurred by the Board in carrying out its functions with respect to the implementation of the NHI Scheme including the purchase of real property, remuneration, allowances and other operating costs. (4) The Board may with the approval of the Minister make regulations to provide for the financial organisation of the moneys of the NHI Fund by– (a) the establishment and maintenance of different autonomous branches for different purposes; or 65 (b) the establishment and maintenance within such branches of different reserve funds. (5) Subject to the provisions of this Part, the use, disposition, investment, disbursement, administration and management of the NHI Fund, including any subsidy, grant or donation received for programme operations shall be governed by resolution of the (6) Repealed (7) Any portion of the reserve fund may be invested for short term periods only, to yield interest at the prevailing rates. (8) The Board shall maintain separate administrative, financial, accounting and other records with respect to NHI Scheme, and shall maintain separate accounts, separate internal auditing, separate independent external auditing and separate administrative processing of benefit claims and appeals. All provisions of this Act relating to financial, accounting and other records of the Board shall apply to the financial, accounting and other records of the NHI Scheme. On no account shall the moneys of the NHI Scheme be used as or form part of any other Social Security moneys and on no account shall the moneys of the Social Security Fund be used as or form part of any other moneys of the NHI Scheme. (9) The Board shall not make any investments in or make any loans to any person, company, individual, health care provider or other entity whatsoever that may be involved in the provision of health care services, diagnostic treatment services, the provision of drugs or any other services that may be provided under the NHI Scheme. (10) Section 45 relating to actuarial review, shall apply to the NHI Fund in like manner as it applies to the Social Security Fund. 66 (11) The Board shall regularly submit to the Ministry of Health annual reviews on the performance of the NHI Scheme.